by Martin Hutchinson, Global Investing Strategist
This may sound arcane and boring, but I promise you it’s not.
What I’ve learned will blow yet another hole in the already shaky euro.
It begins with Bernd Schunemann, a law professor at the Ludwig-Maximilian University in Munich. He has sued the German Bundesbank over its participation in the Eurozone “Target-2” settlements system.
Now I’ll be the first to admit that yes, my eyes do glaze over when thinking about settlements systems-and I used to be a merchant banker.
But looking at the details of the case I had something of a banker’s moment of clarity.